Job uncertainty following brands buyout

Uncertainty looms around jobs at three Island stores following a major buyout.

Clothing giant Boohoo has secured the Burton, Dorothy Perkins and Wallis brands from the Arcadia Group in a £25.2million deal.

However, the agreement means Boohoo will only acquire the brands and intellectual rights and won't include the 214 UK retail stores or concessions and franchises.

The Island stores for all three, which are all based on Strand Street in Douglas, currently remain open.

Reports in the UK today say the move will eventually see all three fashion names switch to an online-only future putting around 2,450 jobs at risk.